President lists economic gains from N30trn to N160trn market cap, 2,700km of new roads, and 1.5 million student loans on third anniversary
“You are not a problem to be managed” – Tinubu assures Nigerian youth as he calls for unity over division
President Bola Ahmed Tinubu on Friday declared that Nigeria has “stabilised and is moving forward again,” marking the third anniversary of his administration with a defiant defence of his economic reforms and a sweeping account of national progress.
In a speech celebrating his three years in office, the President acknowledged the painful sacrifices made by Nigerian families but insisted that his administration’s difficult decisions – including the removal of the fuel subsidy and unification of exchange rates – saved the nation from “fiscal breakdown, worsening poverty, and severe economic uncertainty.”
“We chose reform over ruin and decisiveness over hesitation,” Tinubu said. “We chose long-term national recovery over short-term comfort.”
Economic Turnaround
Recalling the crisis inherited in 2023, Tinubu noted that Nigeria was spending ₦18.4 billion daily on petrol subsidies – over ₦4 trillion in 2022 alone – while multiple exchange rate windows cost the nation more than ₦8 trillion over three years to rent-seeking and speculative practices.
Today, he said, the economy is more competitive and better positioned for sustainable growth.
The President highlighted a dramatic stock market surge, with the All Share Index rising from 53,000 to 250,000 and market capitalisation leaping from N30 trillion to a record N160 trillion. “Companies are declaring record profits and dividends,” he noted.
Public finances are improving, states and local governments have greater resources, and investor confidence is growing, he added.
Infrastructure Boom
On infrastructure, Tinubu announced that over 2,700 kilometres of highways and major roads are under construction, reconstruction, or rehabilitation across the country. These include the Lagos-Calabar Coastal Highway, the Sokoto-Badagry Super Highway, the Abuja-Kaduna-Zaria-Kano Road, the East-West Road, and numerous rural access roads.
Rail modernisation projects are ongoing to improve connectivity and economic integration.
Oil, Gas, and Power
In the oil and gas sector, the President said reforms have attracted billions of dollars in fresh investment from international oil companies that had previously shunned Nigeria. The $5 billion NLNG Train 7 project is nearing completion, and local refining capacity has improved energy security, reducing dependence on imported petroleum products.
On power, Tinubu acknowledged legacy challenges but said his administration is clearing debts, expanding transmission infrastructure, investing in renewable energy, and strengthening the national grid. “No modern economy can grow in darkness,” he declared.
Agriculture, Education, and Housing
The President reported that agricultural interventions have supported millions of farmers through improved seedlings, fertilisers, mechanisation, irrigation, and expanded access to finance and markets. New agricultural corridors are being opened to create jobs and reduce pressure on household incomes.
In education, the Nigerian Education Loan Fund has provided over 1.5 million students with access to higher education, disbursing more than ₦282 billion.
The Renewed Hope Housing Programme, alongside efforts by the Federal Housing Authority, is delivering over 10,000 housing units across 14 states and the Federal Capital Territory, creating over 300,000 jobs. Major Renewed Hope Cities in Abuja, Lagos, and Kano are progressing steadily.
The consumer credit initiative, CREDICORP, is opening new economic opportunities for workers and families, while thousands of primary healthcare centres are being revitalised.
Telecoms and Digital Economy
Tinubu noted that decisive action has stabilised the telecommunications sector, with operators expanding networks, investing in infrastructure, recruiting Nigerian talent, and widening digital access.
“A connected Nigeria is a more competitive Nigeria,” he said.
Message to Nigerian Youth
Addressing young people directly, the President struck an emphatic and reassuring tone.
“To our young people, I want you to know this nation believes in you. You are not a problem to be managed. You are the engine of Nigeria’s future,” Tinubu said.
He pledged expanded opportunities across technology, manufacturing, creative industries, agriculture, sports, and entrepreneurship, with investments in digital skills, technical education, innovation, student financing, and enterprise support.
Security and National Unity
On security, Tinubu acknowledged that challenges remain but said many communities and highways are becoming safer and more economically active. The Armed Forces and security agencies have intensified operations against terrorists, bandits, kidnappers, and oil thieves. Investments continue in intelligence, surveillance, logistics, and technology.
“This government will not relent until every Nigerian can live, work, travel, and dream in safety,” he vowed.
Calling for national unity, the President said: “Nigeria belongs to all of us – no region, faith, or group should feel marginalised or forgotten. Whether Christian or Muslim, North or South, urban or rural, we rise or fall together as one nation under God.”
Looking Ahead
Tinubu assured Nigerians that food prices have largely come down from their peak in 2023/2024, and his administration is working to reduce transportation costs by supporting the conversion of commercial vehicles to CNG and electric vehicles.
He acknowledged that not every problem has been solved. “We are not yet where we want to be. But the foundation for recovery has been laid.”
The President concluded with a stirring call to national purpose.
“History teaches us that great nations are not built in comfort. They are built through sacrifice, resilience, courage, and collective purpose,” Tinubu said. “Today, the world is watching our country again – not as a nation defined by its difficulties, but as a nation determined to rise.”
He urged Nigerians to keep faith with the nation, reject cynicism and division, and move forward together.
“History tests nations before it elevates them. Nigeria is passing through such a test. But I believe with all my heart that we shall emerge stronger, fairer, more united, and more prosperous than ever before.”
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